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(This is an excerpt from recent blogs for Decision Point subscribers.)
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On Thursday gold broke down below important support, declaring, in our opinion, that the bear market rally from the June low is over. Today the decline continued, but at a much slower pace, so we should probably look for a short snapback rally very soon.
The PMO crossover sell signal gave us some advance warning of the break, but the Trend Model is slower to react, and it will probably take several days before the 20-EMA crosses down through the 50-EMA to generate a Trend Model SELL signal.
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